Why Pursue a Career in Finance?
In the olden days a career in finance did not offer anything more than a back-office recording keeping job. A finance person was understood to be a record-keeping person in an organization.
However, with the evolution of business landscape, the role of finance has evolved and become more challenging. In today’s organization a finance person occupies a much broader role involving decision-making, planning, controlling the financial operation of a business.
Within finance, one can find a variety of job roles that are not limited to just the accounting field. You can explore financial career options in various industries such as financial service, financial planning, fund management, regulatory compliance, trading, financial management, and so on.
These different jobs require you to have completely different skill sets, and you can choose a financial career that suits your personality and skill level.
If you are analytically oriented, you can choose a career in risk management, where your job is to measure and manage the risk faced by a bank or a financial institution. Alternatively you can also join the insurance industry as an actuary where you ass the risk of loss, and design and price new insurance products. These jobs require number crunching skills. You are also expected to be very diligent as a small mistake can turn into big losses.
On the other hand, if you are a very outgoing person and like meeting people, you may be better suited for selling financial instruments. You may want to join a bank or an insurance company, and promote their financial products to prospective customers. In a bank, you are expected to sell their financial products such as deposit accounts, credit cards, personal loans, home loans, etc. For a career in sales, most organizations provide you a thorough training on their products and common techniques for selling. You are expected to be a go-getter with the ability to close deals quickly. In most financial services institutions, you are paid a decent salary and a commission, which is based on your sales targets.
One more lucrative career option is in trading. As a trader you use your employer or client’s funds to trade in financial products such as equity, bonds, currencies and currencies in an attempt to make a profit. Traders study the financial markets and identify opportunities to make profit. This is a high stress job and requires you to have strong analytical skills and a tough attitude. A career in trading also offers good salaries with bonuses and incentives linked to your performance.
While these are a few important career options available in finance, a person interested in this field can choose from a much wider array of job roles. Best of luck with your financial career!